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Credit Bureaus

BUSINESS
July 10, 2011 | By Scott J. Wilson, Los Angeles Times
The higher your credit scores, the better shot you have of getting a loan or credit card application approved. Improving your credit scores takes time, but it can be done. Start by getting free copies of your three major credit reports at the government-authorized site annualcreditreport.com. 1. Check your reports for accuracy. Financial columnist Liz Weston, author of "Your Credit Score," says to look for credit cards or other accounts that aren't yours, negative entries that are more than seven years old, duplicate past-due items and incorrect Social Security number or date of birth.
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REAL ESTATE
October 4, 1998 | LEW SICHELMAN, SPECIAL TO THE TIMES
Home buyers are no longer being penalized for searching long and hard for the best mortgage rate and terms. Now, thanks to a group of lenders who worked to persuade the three credit bureaus to change their method of rating mortgage applicants, you can scout around for the best deals until you are satisfied you can't do any better. "This is huge," says Ginny Ferguson, a Pleasanton, Calif., mortgage professional who led the assault as chairman of the National Assn.
REAL ESTATE
June 13, 1999 | KENNETH R. HARNEY, SPECIAL TO THE TIMES
When you've made your monthly home mortgage payment on time for years, you naturally assume that you've built up a good credit history. That credit report or history, in turn, can be crucial in helping you borrow money elsewhere, get a job or even get insurance. Yet large numbers of American homeowners are the unsuspecting victims of a little-known but growing trend among certain lenders: Their payment histories are being kept secret, never reported to any credit bureau.
BUSINESS
September 6, 2013 | By Kenneth R. Harney
WASHINGTON - Policy changes by two of the biggest players in the mortgage market could open doors to home purchases this fall by thousands of people who were hard hit by the housing bust and who thought they'd have to wait for years before owning again. Fannie Mae, the federally controlled mortgage investor, has come up with a "fix" designed to help large numbers of consumers whose short sales were misidentified as foreclosures by the national credit bureaus. Under previous rules, short-sellers would have to wait up to seven years before becoming eligible for a new mortgage to buy a house.
BUSINESS
April 11, 2010 | Liz Pulliam Weston, Money Talk
Dear Liz: My husband racked up more than $17,000 in credit card debt and negotiated a settlement for $4,000 last year. We received a 1099-C form for $13,000 of forgiven debt, which we have to claim as income. That puts our modified adjusted gross income over the threshold of being able to claim tuition and college expense deductions for our three kids and myself. We now owe more than $11,000 in taxes and we don't have the cash to pay. Any advice would be greatly appreciated. Answer: You may think owing an $11,000 tax bill because you saved $13,000 on a credit bill is bad enough.
BUSINESS
August 19, 1992 | CHRIS WOODYARD, TIMES STAFF WRITER
Two Orange County credit reporting services, along with an Ohio company, have agreed to a settlement aimed at preventing breaches of personal privacy, the Federal Trade Commission said Tuesday. The FTC had alleged that the three companies failed to prevent individuals' credit reports from being reviewed by people who had no legitimate reason to see them. The companies--Information Resource Service Co. in Fullerton, CDB Infotek in Orange and Inter-fact Inc.
CALIFORNIA | LOCAL
August 26, 1992
I would like to clarify a few points and correct some errors made in your editorial (Aug. 9) regarding credit reporting. We support HR 3596, the Consumer Reporting Reform Act of 1992, as reported out of the House Banking Committee and currently pending before Congress. It contains over 40 provisions that would benefit consumers. However, it also provides for preemption of state credit reporting laws existent or pending in 21 states. We favor preemption for one simple reason.
BUSINESS
January 12, 2001 | LIZ PULLIAM WESTON, TIMES STAFF WRITER
Consumers will finally be able to learn their credit scores--the three-digit numbers lenders use to determine whether to grant loans and what interest rate to charge--under an agreement announced Thursday between leading credit scorer Fair, Isaac & Co. and credit bureau Equifax.
BUSINESS
September 9, 2012 | By Kenneth R. Harney
WASHINGTON - With generous new guidelines from Fannie Mae and Freddie Mac likely to stimulate large numbers of short sales by underwater homeowners, what effect will the sales have on the sellers' credit scores? It's a crucial question, because short sales typically cause FICO scores to plummet, sometimes 150 points or more. This, in turn, complicates sellers' credit capabilities for years and makes additional borrowing - whether for auto loans, credit cards or new mortgages - tougher and more expensive.
BUSINESS
October 2, 2011 | Liz Weston, Money Talk
Dear Liz: I'm 27 and have been working hard for the last few years to bring up my FICO credit score. I've paid off all my credit card debt and disputed errors on my credit report. I'd like to purchase a home in the next few years and am trying to get my score over 700 (I am currently at 615). I have three credit cards that I regularly use and pay off. Do you have any suggestions on how I can continue to bring up my credit score? Should I take out a personal loan? Should I apply for another credit card?
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